Wealth Alliance Advisory Group LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,648 shares of the network equipment provider’s stock after purchasing an additional 2,837 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Cisco Systems were worth $635,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Holderness Investments Co. increased its stake in Cisco Systems by 2.3% during the 3rd quarter. Holderness Investments Co. now owns 68,710 shares of the network equipment provider’s stock valued at $3,343,000 after purchasing an additional 1,576 shares in the last quarter. Johnson Financial Group Inc. increased its stake in Cisco Systems by 12.1% during the 3rd quarter. Johnson Financial Group Inc. now owns 142,844 shares of the network equipment provider’s stock valued at $6,950,000 after purchasing an additional 15,389 shares in the last quarter. PDS Planning Inc increased its stake in Cisco Systems by 35.6% during the 3rd quarter. PDS Planning Inc now owns 5,085 shares of the network equipment provider’s stock valued at $247,000 after purchasing an additional 1,336 shares in the last quarter. Oakwood Capital Management LLC CA increased its stake in Cisco Systems by 7.1% during the 3rd quarter. Oakwood Capital Management LLC CA now owns 166,375 shares of the network equipment provider’s stock valued at $8,094,000 after purchasing an additional 11,043 shares in the last quarter. Finally, Truewealth LLC increased its stake in Cisco Systems by 6.7% during the 4th quarter. Truewealth LLC now owns 14,170 shares of the network equipment provider’s stock valued at $614,000 after purchasing an additional 890 shares in the last quarter. 69.04% of the stock is owned by hedge funds and other institutional investors.
CSCO has been the topic of a number of recent analyst reports. Goldman Sachs Group lowered shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and upped their price target for the company from $58.00 to $62.00 in a research note on Tuesday, April 16th. BidaskClub lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 7th. Bank of America reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a report on Thursday, February 14th. Jefferies Financial Group upped their price objective on shares of Cisco Systems to $55.00 and gave the company a “buy” rating in a report on Thursday, February 14th. They noted that the move was a valuation call. Finally, Citigroup upped their price objective on shares of Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.87.
CSCO traded down $0.83 during midday trading on Wednesday, hitting $55.69. 17,733,787 shares of the company traded hands, compared to its average volume of 20,893,713. The company has a quick ratio of 1.74, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The company has a market cap of $272.14 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.93 and a beta of 1.21. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $57.53.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The business had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.89 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. On average, research analysts forecast that Cisco Systems, Inc. will post 2.76 EPS for the current year.
Cisco Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other Cisco Systems news, EVP David Goeckeler sold 30,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the transaction, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at $21,840,188.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the completion of the sale, the chief financial officer now owns 420,696 shares of the company’s stock, valued at $21,749,983.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,750 shares of company stock worth $5,390,313. Insiders own 0.03% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
Featured Article: Gross Domestic Product (GDP)
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.